IPL looks across the pond for float

The plastics manufacturer is aiming to list on the Toronto stock exchangeALAMY

IPL Plastics, the rigid plastics manufacturer based in Dublin, is aiming to raise up to C$200 million (€125 million) through a Canadian IPO later this year.

The company, which was formerly known as One51, has been planning a float for some time and decided to press ahead with its plans late last year when a proposed takeover fell through.

IPL will set up a new holding company in Canada in advance of the flotation, which could happen as early as June, according to sources. A company must be domiciled in Canada in order to list on the Toronto Stock Exchange. It is understood that IPL’s headquarters will remain in Dublin, however.

In October, CapVest, the London private equity firm run by Seamus Fitzpatrick, the Irish…

Want to read more?

Subscribe now and get unlimited digital access on web and our smartphone and tablet apps, free for your first month.